Tech firms in Utah are making a big impact on the state’s economy. They provide good jobs for Utahns and bring in new people from all over the country and world.
A study by the Kem C. Gardner Policy Institute reports, “Utah’s tech job growth rate was more than double the nation’s as a whole from 2007 to 2017,” according to KSL.com. “Tech companies in Utah directly and indirectly supported more than one in seven Utah jobs and over one-sixth of a nearly $30 billion state gross domestic product.”
Even with the significant growth in the economy, many people wonder, why Utah? The landlocked state isn't close to beaches and doesn't have mild weather year-round like the major tech hubs in California. But even without the mild weather and close beaches, there are many reasons the tech market is so strong in Utah. Here are just four.
Low cost of living
It's assumed the most famous spot for tech jobs is Silicon Valley in California, which encompasses a large swath of cities in the San Francisco Bay Area. San Jose is the center of the area, according to the Silicon Valley Historical Association.
Silicon Valley has also become famous for its high prices on everything from homes to gasoline. The cost of living in San Jose is 49% higher than the national average, according to Payscale.com. Compared to the cost of living in Salt Lake City, which is 6% lower than the national average, it's easy to see why young workers and families would want to make their dollars stretch in the Beehive State.
Highly ranked in innovation
It's no secret that Utah has its share of startups and small businesses local to the area. But some of those startups grow from a couple of employees to global companies. You might've heard of Skullcandy, Qualtrics, or Pluralsight. All of these are products of innovative Utahns.
According to the Global Innovation Index, the United States is number six globally for innovation. Out of the 50 states, Utah is number eight on the "Most and Least Innovative States" by WalletHub. With new minds constantly creating new ideas, apps and products, you can expect Utah to stay toward the top of that list.
A Wells Fargo report notes that “Utah’s economy has been among the more robust and fastest growing in the nation,” according to a Deseret News article. The Beehive State has low unemployment, strong job growth and increasingly high exports.
“Collaboration between business, labor and government is among the reasons why Utah consistently ranks among the best states to do business,” the report claims. Utah also had the third-fastest growth of any state last year; exports jumped 24% in 2018.
With numbers on the rise year after year, big companies are finding it more appealing to settle down in Utah.
Things to do outside work
With a stable economy and employment, these tech workers know they have the time and means to spend their time outdoors enjoying life. Fortunately, Utah doesn't fall short in the recreation department.
Forbes’ 2012 ranking of "Best cities for tech jobs" list notes the draw of Utah’s “spectacular nearby natural amenities.” More than 20 national parks and monuments are within a few hours of Salt Lake City, ski resorts top nearly every mountain range and hiking and fishing are a short drive away.
For the tech employees who would rather experience life within four walls, there are museums and theaters galore. In the winter, Park City hosts the renowned Sundance Film Festival which is fun for catching up on the latest Indie flicks.
Make Utah your home
If you're ready to settle down in a place equipped with job security, a stable economy and plenty of post-work entertainment, Utah is the place. Apply for a fulfilling job in the tech industry at BioFire Defense. They are in the business of creating products that speed up medical results and keep communities more secure. Start your next career today.